Ideally, we’d like to bring even more third parties into Monzo.
I think the long term value in Monzo will be in being able to do almost anything that a regular person would need with money within the app. Be it with us directly or a third party through the Monzo app.
Imagine creating a savings pot and being able to pick from a range of providers with a range of terms and rates. Another good one we like to use as an example is being able to see your energy bill and kick off a provider switch using the app in a few minutes with us doing all of the backend process work.
This is all still early days and we’re responding to demand while trying to figure out what works and what doesn’t. There are some things we think we can do a better job of but it takes time to do ourselves and there are others that we’ll possibly never do ourselves.
To address international transfers directly, getting properly and directly set up in the world of international payments is a very long and complex process technically, operations, and paperwork-wise. There’s a reason why TransferWise is so successful and I don’t think us implementing international payments ourselves will entirely replace the need for them, especially for those who send or receive money frequently from different countries.